Binance’s Third Phase of the Most Valuable Builder (MVB) Accelerator Program is Finally Here!
The article explores the Most Valuable Builder (MVB) Accelerator Program structure with an overview of its phases to shed light on Binance Smart Chain’s importance (BSC) and explore Kebab Finance’s innovative burn mechanism.
Binance’s Most Valuable Builder program for the BSC ecosystem strives to promote Decentralized Finance (DeFi) to an advanced level while continuing to offer solutions to centralized Finance (CeFi) alike. Through reduced transaction costs and a $100 million accelerator fund; the program paves the way for decentralized platforms to establish a foundation for innovative business models to be more decentralized, innovative, interoperable, borderless, transparent, and financially inclusive.
As new Defi models continue to emerge on the Binance Smart Chain, their approach to creating a modern financial structure for Binance Smart Chain remains the same. Binance Smart Chain is a new landscape for innovation to showcase decentralized business models’ promises and challenges while broadening financial inclusion through reduced transactions and unparalleled security to build trust.
Although several DeFi models encourage open innovation and experimentation, their business models fail to accommodate the MVB program’s core values that work to promote financial inclusion and security.
How Binance’s MVB program works, and what should new business models and investors take from it.
Binance has made tremendous efforts to support the development of the Binance Smart Chain. Through its MVB program, which consists of three phases, eligible projects must meet the pre-defined requirements to benefit from the MVB Reward Program and encourage open innovation and experimentation for decentralized financial applications and platforms
Phase 1
The first phase of the MVB program requires projects to register with the Build Reward Program to participate and meet specific BSC Github requirements. Accordingly, the projects are meticulously examined based on Binance X and the MVB requirements for the final MVB selection. In this phase, only the top 20 projects qualify for the monthly BUIDL Reward program. The participating projects must deploy their contract to BSC mainnet and register in the BUIDL Reward Program. Also, the project must rank within the Top 20 new dApps in the BUIDL Reward Program to benefit from a predetermined amount of reward of the gas fee.
Phase 2
For a project to pass the second phase of the MVB program to be among the top 10, it must be a demanded application in DeFi, dApps, or the BSC Ecosystem infrastructure and accelerate the pace of financial innovation. Additionally, contributions on Twitter, Telegram, Medium, etc., are considered as long as the project continues to educate the community and bringing value to Binance Smart Chain (BSC). A shortlisting takes into account the Top 20 projects on the “BUIDL Reward” leaderboard to see if the project meets the requirements to receive a $10,000 grant, Security QuickScan from Certik QuickScan to assess relative security of the smart contract in addition to an exclusive incubation workshop with experts in the field.
Phase 3
Projects in the final phase of the MVB program are evaluated based on the Total Value Locked (TVL) and liquidity, Daily Active Users, Established Community, and Security Audit results from Certik. Only 5 out of 10 projects in this phase will have the chance to receive one of the three benefits, which include 100,00 in BnB seed funding, approximately 2 million USD in liquidity support, the opportunity to be directly listed in the Binance Innovation Zone through the Community Vote.
Binance Smart Chain (BSC) has witnessed tremendous growth over the past months, allowing projects to accelerate financial innovation, educate the community and increase healthy market competition, potentially leading to a better DeFi space on Binance Smart Chain.
How Kebab Finance’s business model works, and what investors should take from it:
Kebab Finance’s mission aligns with Binance Smart chain’s vision: financial innovation, security, and inclusion. Our team devised a novel business strategy to identify operational inconsistencies with the current Defi models and set on a new mission to reward the investors.
The new business model combines Binance BUIDL rewards, allowing a 30% distribution of transaction fees on the BNB pool. Also, kebab Finance invested in Bitcoin Standard Hashrate tokens (BTCS) to give back to the community while continually increasing the BTCB pool rewards. The BTCB pool is currently distributing 35 satoshi’s per block.
What to expect from the New Burn Mechanism:
Blockchain technology continues to develop new business models, yet these models stick to the commonly used farming and staking methods without a working mechanism to reward the community. The crypto space’s standard practice is coin burning to decrease the total volume of coins through a burn function to maintain price stability. This method fails to broaden the creation of profit functions to benefit the community.
Kebab Finance provides a novel revenue-sharing mechanism to support long-term value growth, cultivate a healthy ecosystem to encourage responsible innovation, and penetrate the mainstream market for Binance Smart Chain. Unfortunately, Decentralized Finance (DeFi) encounters several challenges regarding volatility, usability, and uncertainty.
Kebab Finance’s new burn mechanism controls volatility and uncertainty by allowing investors to use a burn button to receive the utility burn token. Investors will be able to swap Kebab to the burn token 1:1 on the first day. It will be 1:0.99 on the following day, meaning that the burn is deflationary. Also, investors can use the burn token in unique pools with higher participation amounts. In addition to the new pools, the Governance function enables investors to decide on operational choices and development. It will be fully functional with a dedicated IFO page and Dashboard.
What it means to take the lead on security:
Yield farming is laden with risks — ranging from smart contract risks to liquidation and exit scams. Kebab Finance continues to educate DeFi users to be aware of these risks. We recently completed a thorough security audit by Certik, one of the world’s most trusted blockchain security technology companies, to alleviate minor smart contract issues.
Conclusion
Binance Smart Chain (BSC) is steadily forging new pathways of continued support for emerging blockchain technologies and, at the same time, empowering financial inclusion, reducing transaction costs, expanding transaction scope, and empowering peer-to-peer transactions. This new approach helps the growth of decentralized finance to create an alternative to the current financial system. Although there are various hurdles, Kebab Finance incessantly working on developing a novel decentralized business model with the potential to reshape the existing norms to create a new landscape for Binance Smart Chain and the world.
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Kebab Finance Team
